Dynamics GP Canadian Payroll July Tax Update Information & Year End Tips

Well, the bad news is that there are NO tax cuts for July.  However, the good news is that there is NO CANADIAN PAYROLL TAX UPDATE for July 2014.  This means NO service patch to install.  For all you Canadian Payroll users, this gives you a reprieve until December!

While we are on the subject of tax updates, here are some things to know when doing your year-end update:

1. Once the Year End File Reset process is complete, don’t open this window again until next year!
2. When creating your T4s (and T4As or R1s), GP looks at the Employee’s Last Year Information T4 window and uses this information to populate the T4s.  (Inquiry > Employee Last Year Information > T4 Button)
3. Creating T4s can be done over and over.  Just don’t run the Year End File Reset again! (Routines > T4 and R1 Creation)
4. If you recreate your T4s, you will also have to recreate the T4 Summary Records too.  (Routines > T4 and R1 Summary)
5.  T4 edits can be done using the T4 Edit window, but I don’t recommend that. A better solution, if you have edits:

• Go to the Employee Last Year Information window, find the employee requiring an edit, and open the T4 window.
• Tick the Update box.
• Make your changes.
• Recreate the T4s.

Benefits of doing it this way:

• You now have a permanent record of all your changes.
• If you make your changes in the T4 Edit window they will be overwritten next year.

EXCEPTION

Additional Boxes.  If you open the T4 window in the Employee Last Year Information window, you will see all the boxes available.  If the box you require is NOT there, you will need to use the T4 Edit window (Routines > T4 Edit) to add it to the T4.

6. It is rare but the CRA does occasionally ask for Payroll Audits.

When doing your yearend process please archive your database backups before and after the process.  Don’t take backups and delete them a couple weeks later.  SAVE THEM FOREVER!  If the CRA asks for period databases, you can zip, password protect and send them.  CRA will use an ODBC to open these databases so it doesn’t matter what version or service pack you were on.  They will access the database tables without opening these in Dynamics GP.

Cheers!

Here’s to making life easier with Dynamics GP Canadian Payroll!  On second thought…maybe wait until AFTER year-end is finished!